A survey can help you find out about the condition of the property you wish to buy and highlight if there are any problems. These findings could then provide you with bargaining power for negotiating the price down or asking the seller to fix any problems before the sale goes through.
The RICS Homebuyer Report is intended for conventional, residential properties e.g. houses, flats and bungalows, which appear to be in a reasonable condition and have not been subject to significant alterations since construction.
The report is written in a standard format, it is more comprehensive than the standard mortgage valuation and focuses on essentials (e.g. urgent or significant defects and problems which may affect the value of the property). Because of the practical limits on the type of property and the scope of its coverage, the HomeBuyer Report is mid-range in price, more expensive than a Standard Mortgage Valuation but less expensive than a Building Survey.
This report will help prospective buyers to make an informed decision on whether or not to proceed with the purchase and assess whether or not the property is reasonably priced. It will also assist in identifying what decisions and actions should be taken before contracts are exchanged.
The surveyor will give their professional opinion on the particular features of the property which affect its present value and may affect its future marketability. The surveyor can only comment on visible areas where access is readily obtainable.
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